Demand for Pet Friendly Rentals on the Rise
Findings from a recent Apartments.com survey reveal it is more likely renters could be living next door to a pet owner compared to recent years. This year, 75 percent of renters surveyed said they are pet owners, compared to 43 percent in 2012. These findings align with the improving U.S. economy, according to an American Veterinary Medical Association survey released last year; the difficult economy played a very strong role in the first decline in pet ownership since 1991.
Half of the pet-loving renters surveyed by Apartments.com would like to believe their fellow apartment residents also adore their four-legged companions. Fortunately, it turns out they are not far off, as nearly 60 percent of renters who do not own pets said they still enjoy living around others with pets.
While nearly 65 percent of the pet owners surveyed said they live in a two-bedroom apartment or larger, many indicated they were ambivalent to the size of their space when choosing a pet. In fact, more than 75 percent said the size of their apartment only played "some importance" to "no difference" when picking a pet. The five most popular apartment pets among the pet owners surveyed are:
- Cat: 45 percent
- Small dog: 38 percent
- Medium dog: 21 percent
- Large dog: 19 percent
- Fish: 6 percent
Budget-savvy renters should plan for costs associated with living with pets, as 63 percent of pet owners indicated they are required to pay a pet deposit. In fact, a majority spend more than $150 annually in deposits and/or monthly fees.
However, deposits and fees do not always cover every type of pet. Renters should be specific in clarifying what types of pets are allowed, as pet restrictions vary from one apartment building to another. In fact, only 28 percent of renters surveyed said they live in a building that has no restrictions on what type of pet they are allowed to have.
The survey also reveals nearly seven out of 10 respondents adopted their pet from a rescue or shelter. As part of this survey, Apartments.com committed to donating $1 for every survey response to North Shore Animal League America, the world's largest no-kill animal rescue and adoption organization.
Reprinted with permission from RISMedia. ©2013. All rights reserved.